Findus CEO Steps Down

EUROPE - Matthieu Lambeaux, CEO of Findus Southern Europe, has decided to step down from his position to progress with some entrepreneurial ventures outside of the Findus group.

James Hill, Chief Executive of Findus Group, said: “As a Findus executive for the last 15 years, and CEO of Findus Southern Europe for the last 9 years, Matt has been instrumental in the creation and development of Findus Southern Europe.

"Under Matt’s leadership the Company has overcome challenging competitive and market circumstances to grow its revenues from 70 to 300m euro, to strengthen its market share and deliver consistent profitability.

"The Company has seen significant investment in its core French business and led the market with the adoption of Findus ethical stance towards responsible fishing and the suppression of palm oil. Recently, the Company has also acquired and integrated Lutosa of Belgium and La Cocinera of Spain into the Findus Southern Europe family.

"Matt leaves behind a strong leadership team and a business characterised by its innovation, speed and agility. We would like to thank Matt for his contribution and to wish him the best in his future career.

"Findus Southern Europe is a leading brand in its markets and we have a number of exciting plans for innovation and further growth across Southern Europe.”

A successor as CEO of Findus Southern Europe will be announced in due course.

Findus Group recently reported operating cash-flow of £67 million and EBITDA of £91 million for the year ending 2014, up four per cent on the previous year, on a constant currency basis.

2014 was Findus Group’s second year of positive constant currency growth and the Group continues to be optimistic for the financial year ending 2015.